Kainos reaches £1bn stock market valuation

  • Belfast-based software firm Kainos has now reached a stock market valuation of more than £1bn, which represents the number of company shares multiplied by the current price of those shares.

    Kainos is one of Northern Ireland’s largest home-grown companies and specialises in helping organisations digitise their business, including UK government departments and other public bodies.

    Its share price has been rising quickly in recent months from around £5 in November to over £8 today.

    In November, its stock valuation was around £600m, and the firm posted results then showing its profits had risen by more than a third in the first half of the financial year.

    Turnover was up 29% to £87m and adjusted pre-tax profit rose by 27% to £13m.

    RELATED: Kainos becomes the first NI company promoted to the FTSE 250

    The company said then it was showing good progress in growing its non-UK business with international turnover up 86% to £18m.

    Kainos also announced in November that it had taken over two businesses in the UK and Germany.

    Overall the firm employs 1,550 people across 12 offices in Europe and North America.

    In February 2019 Kainos bought the Movie House Cinema building on the Dublin Road for £7m. The firm said they want the Bankmore Square site to become their new office base, which they expect to move into in spring 2021.

    About the author

    Niamh is a Sync NI writer with a previous background of working in FinTech and financial crime. She has a special interest in sports and emerging technologies. To connect with Niamh, feel free to send her an email or connect on Twitter.

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